Bill
Bill > S1595
NJ S1595
Prohibits investment by State of pension and annuity funds in, and requires divestment from, companies involved in production or maintenance of nuclear weapons.
summary
Introduced
01/09/2024
01/09/2024
In Committee
01/09/2024
01/09/2024
Crossed Over
Passed
Dead
Introduced Session
2024-2025 Regular Session
Bill Summary
This bill prohibits the Director of the Division of Investment from investing any assets of the State retirement funds in any company involved in the production or maintenance of nuclear weapons. The bill requires divestment from these companies to be completed generally within two years. Under the bill, the State Investment Council and the director are required to identify all companies subject to divestment, and the director is required to report annually on the progress of divestment.
AI Summary
This bill prohibits the State of New Jersey from investing pension and annuity funds in companies involved in the production or maintenance of nuclear weapons. It requires the State Investment Council and the Director of the Division of Investment to identify and divest from such companies within two years of the bill's effective date. The bill also mandates annual reporting on the progress of divestment and provides indemnification for the council members, officers, and employees involved in implementing the divestment.
Committee Categories
Government Affairs
Sponsors (1)
Last Action
Introduced in the Senate, Referred to Senate State Government, Wagering, Tourism & Historic Preservation Committee (on 01/09/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2024/S1595 |
| BillText | https://pub.njleg.gov/Bills/2024/S2000/1595_I1.HTM |
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